All Forum Posts by: Caroline Widjaja

It could be between $100-150K? I saw there's a HUGE tree close to the property (to cause the cracks here & there) and looks like it may have some structural damage, and will be costly to fix. If you're a first timer, you'll need to pass this one. A lot of things involved, not fun at all.  

@Paul Flynn  I would not wait on the sidelines to wait for the market to crash to buy buy buy....but I'll spare some $$$ to buy (just in case if it's crash or most likely slowing down). There are MILLIONS of people waiting on the sidelines like you to wait for the best time to buy buy buy. I will buy whenever the property can generate a BIG cash flow.

@Taylor King, where did you get the Comps? Zillow? It isn't a reliable source. You have to get the listing of "recently sold properties" for similar condition and size of the house from your agent through MLS, to be more accurate. I don't like CMA from the MLS system either, so I run my own analysis from that listings. Hope it helps!

@Dan H., Some CA realtors that I know, are playing this kind of games (Double Commissions) and like you said, the Realtor benefited the most, but the Seller also got a discount in paying the commissions. Instead of paying 5% commissions for both sides, the Seller can pay 4% commissions because the Realtor has his/her own Buyer. Most likely your offer will never be presented to the Seller. The Realtor can easily convince his/her own Buyer to make it the same offer like yours to beat your offer and he only presented his own buyer's offer to the Seller. That's the reality.   

 I have to agree with him, I'm also not a fan of ALL 1 beds and studios. In my opinion, it's either hard to sell or won't appreciate that much, and yes, vacancy is higher.

@Jim Young,  I think the sharp rise in interest rates has a much bigger impact on luxury homes, especially in Los Angeles area. I see a slowing down in this luxury homes market right now, and so many buyers are waiting on the sidelines in expectation of the price will be going much lower or they are still thinking about the needs vs wants.

Well, as an investor, you really wish that a BIG crash will happen soon and you can buy a lot of properties, right? No, it won't happen. Like all other ppl said, you will see more of a softening market.

@Account Closed, Thanks Mike for your input! This is the first time I have something like this complex LOL

Hello BP,

Would any RE attorneys/someone who has experience in this Seller Financing process to help me verifying if the below TERMS are okay for my side (Seller)? Just a little background, the Buyer will put 50% down, contingent on appraisal, and closing in 10 days after appraisal.

Anything else should I worry? 

CONTINGENCY TERMS, CONDITIONS AND AGREEMENTS WHEREAS, Seller,

fully understands and agrees to enter into this binding agreement with the Buyer, to

sell the property to the Buyer under the following terms:

1). Seller agrees to carry a (50%) Deed of Trust in 2nd position

2). Term: One Year @ 4% APR, with no prepayment penalties

3). Compensation to Seller in escrow: 50% of the appraised value

4). Note maturity date: One year or before, after close of escrow as a balloon payment, with

accrued interest.

2nd position Deed of Trust terms:

2nd position Deed of Trust is divided as follows:

A)30% of the 2nd position Deed of Trust is to be recorded with the county recorder, by

escrow at the close of escrow, in favor of Seller as beneficiary.

B). 20% of the same 2nd position Deed of Trust, a Deed of Trust unto itself, will be held

outside of escrow by Seller and recorded with the county recorder, within (3) days after

close of escrow, for a combined 2nd position Deed of Trust of (50%). Buyer to incur all

expenses for having this portion of the 2nd Deed of Trust recorded, along with insurance on

said Deed of Trust, protecting Seller's interest

@John Burtle, Putting $60K with all cash offer is not a low-ball offer, but if it's a seller market, your chance to get the property is slim. 

@Minh Nguyen,

One question for you: Does your attorney have more experience in Landlord or Tenant side?